Macsteel stuns mart, buys wire rod from Egypt
Jun 06, 2014 | 05:01 PM
| Nat Rudarakanchana
NEW YORK Macsteel International USA Corp. has purchased a shipment of wire rod from Egypt totaling 8,000 to 10,000 tons.
"There is one shipment coming. Its small volume," Tom Keller, managing director for the White Plains, N.Y.-based company, told AMM.
He declined to comment further on the shipment.
Other traders in steel long products expressed surprise at the Egyptian origin of the shipment.
"Its pretty astonishing to me," one Houston-based trader said. "Something moving from that side, thats a little unexpected. ...It seems someone made a first move. So well see how that develops and what the material really is."....
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